MAI Capital Management Acquires 948 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

MAI Capital Management boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,886 shares of the business services provider’s stock after purchasing an additional 948 shares during the quarter. MAI Capital Management’s holdings in Broadridge Financial Solutions were worth $2,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank lifted its position in shares of Broadridge Financial Solutions by 0.6% in the 3rd quarter. Swiss National Bank now owns 350,800 shares of the business services provider’s stock worth $75,433,000 after acquiring an additional 2,100 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Broadridge Financial Solutions by 24.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider’s stock worth $1,335,000 after acquiring an additional 1,219 shares during the period. Natixis Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 8.0% in the 3rd quarter. Natixis Advisors LLC now owns 106,683 shares of the business services provider’s stock worth $22,940,000 after acquiring an additional 7,866 shares during the period. Empowered Funds LLC lifted its position in shares of Broadridge Financial Solutions by 32.5% in the 3rd quarter. Empowered Funds LLC now owns 2,468 shares of the business services provider’s stock worth $531,000 after acquiring an additional 606 shares during the period. Finally, Empirical Finance LLC lifted its position in shares of Broadridge Financial Solutions by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 3,955 shares of the business services provider’s stock worth $850,000 after acquiring an additional 87 shares during the period. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Morgan Stanley raised their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $217.83.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total value of $5,232,750.00. Following the completion of the sale, the chief executive officer now directly owns 206,349 shares of the company’s stock, valued at $43,190,909.19. This trade represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,033 shares of company stock valued at $23,382,322 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Down 1.0 %

BR stock opened at $224.84 on Wednesday. The business has a fifty day moving average price of $216.50 and a 200 day moving average price of $208.63. Broadridge Financial Solutions, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $230.00. The stock has a market capitalization of $26.28 billion, a price-to-earnings ratio of 38.90 and a beta of 1.05. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm posted $1.09 EPS. The business’s revenue was down .6% on a year-over-year basis. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.